What is the journal and payment entry of P.F and E.S.I
- 21 Answers
- 216683 Views
- ABC, Chartered Accountant, IBM, Kohinoor, I also Faced
- E-Mail Answers
Answer Posted / mahesh sharma
On Credit of Salary:
Salary ( including Basic Salary & All Allowances) Dr.
Employer Contribution in PF Dr.
Employer Contribution in ESI Dr.
Adm. Charges for PF DR.
Esi Payable ( both Employer + Employee) cr.
PF Payable ( Both Employer + Employee+ Adm Charges ) Cr.
Salary & Wages Payable Cr.
Pf Payment :
Pf Payable Dr
Cash/Bank Cr.
Esi Payment:
Esi Payable Dr
Cash /Bank cr.
Salary payment :
Salary & Wages Payable Dr
cash/Bank Cr.
| Is This Answer Correct ? | 175 Yes | 24 No |
Post New Answer View All Answers
Cheque rs 1400 received from Charles in settlement of a debit of rs 1500 returned dishonored
how many times we can deposit the old currency in one a/c in the bank
Mobile on Rupees 2000 purchase for office use not for staff....What entry in accounts..?????
Explain me your current/former role, your responsibilities, and how success is/was measured?
Tell me about a situation where you showed determination?
What can go wrong if you have a balance sheet with a lot of debt? What can go wrong if there is negative owner's equity? What does a good cash flow statement look like and why?
What are the disadvantages of double entry system?
Do you know what is liabilities and what all does include in current liabilities?
what is a grn in terms of accounting ? what is a grnthroughpo in terms of purchase order? what is a direct grn?
Do you know what are trade bills?
Accounting transactions are recorded in accordance with thier legal form or substance. Briefly explain the legal form and substance of the accounting transactions and give one relevant example.
What is the definition of accounting?
Fundamental accounting assumptions are (a) Materiality. (b) Business entity. (c) Going concern. (d) Dual aspect
What is cost accountancy?
The Horse bought rs. 2000 on Jan.20th died, its carcase was sold for rs.50 loss rs. 1950 what is journal enty
